Disney to Acquire $1.5 Billion Equity Stake in Epic Games
$Disney(DIS.US$ plans to invest $1.5 billion to acquire an equity stake in Epic Games as the entertainment company seeks to expand its footprint in a growing industry of more than 3 billion video game players worldwide.
Disney announced the Epic stake acquisition on the same day it released fourth quarter earnings and provided 2024 earnings outlook that beat estimates.
Disney mobile games have 1.5 billion global installs, and to date, nine Disney games franchises have each grossed more than $1 billion in sales, the company said in a press release that announced its planned investment in Epic Games.
The two companies will create an open games and entertainment universe under the deal that will be subject to regulatory approvals, Disney said.
The games and entertainment universe will allow consumers to play, watch, shop and engage with content, characters and stories from Disney, Pixar, Marvel, Star Wars and Avatar, Disney said. Players, gamers and fans will be able to create their own stories and experiences, express their fandom , and share content with each other.
In a separate press release, Disney said it expects adjusted earnings for fiscal 2024 to reach $4.60 a year. That's higher than the 4.34 per share expected by analysts polled by CIQ, according to MT Newswires.
Excluding certain items, the company's earnings for the first quarter ended Dec. 31 reached $1.22. That exceeds the 99 cents a share expected by analysts, according to Benzinga. Revenue for the period was $23.5 billion, missing the market consensus of $23.6 billion reported by Benzinga.
The company's board declared a dividend of 45 cents per share, a 50% increase from the last dividend paid in January.
The games and entertainment universe will allow consumers to play, watch, shop and engage with content, characters and stories from Disney, Pixar, Marvel, Star Wars and Avatar, Disney said. Players, gamers and fans will be able to create their own stories and experiences, express their fandom , and share content with each other.
In a separate press release, Disney said it expects adjusted earnings for fiscal 2024 to reach $4.60 a year. That's higher than the 4.34 per share expected by analysts polled by CIQ, according to MT Newswires.
Excluding certain items, the company's earnings for the first quarter ended Dec. 31 reached $1.22. That exceeds the 99 cents a share expected by analysts, according to Benzinga. Revenue for the period was $23.5 billion, missing the market consensus of $23.6 billion reported by Benzinga.
The company's board declared a dividend of 45 cents per share, a 50% increase from the last dividend paid in January.
Disclaimer: This article is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested into. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. See this link is for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moomoo Senior News and Community Manager
Posts and columns do not represent the views of MM. They’re not investment advice.
1369Followers
10Following
3251Visitors
Follow